GOLD 2009 vs TodayThis is self explanatory. See the chart.
Top chart is today, bottom chart is 2009. Color coded tops and bottoms. History repeats itself it seems.
Wedgebreakout
BTC outlook for 3 April 2022. As mentioned yesterday, BTC made a retest on my short term trend line and taking the fake out in to account as well is now making a double touch on my short term trend line. I would like to see BTC respect my short term trend line and keep pushing upwards towards the next major resistance level around 48k, before making a break out to the top side of the wedge.
FTMUSDT wants to go higher?The price is testing the confluence zone on 1.4$ zone. as you can see on the upper chart, the price is testing the daily resistance after the breakout from the falling wedge
on the lower chart, on 4h Timeframe, the price is creating a rising wedge after the flip of 1.3$ resistance as I said in my previous analysis
How to approach?
the price needs to invalidate the rising wedge (usually is an inverse pattern) and retest the upper trendline as new support. If and only IF the price is going to confirm the flip, we can apply our rules to open a new long position. The next valid resistance is 1.6$ where the market has 0.618 Fibonacci level resistance
ZEC Continues upward in wedge about to breakoutWatch ZEC continue to rise as the Russians use ZEC to bypass sanctions. ZECs anonymous transactions make it a preferred crypto currency for the Oligarchs looking to work around the sanctions (also Pirate Chain is the other). Over the next 18 days I see ZEC going up another 20+% and then it will cross over the upper resistance and continue upward to $300. UNLESS sanctions are lifted. If the sanctions are lifted get out of the privacy cryptos at least for a little while as the Oligarchs pull their money out as they won't need to use it any longer.
Ethereum 3day shows a double bottom and breakout 🐱🏍The 3day chart shows a strong sign of recovery and can be taken as a future outlook of the weekly.
Bullish stuff:
We entered the bull market support band and did not get rejected so far.
The RSI shows a strong healthy rise.
Trading volume is higher compared to the start of 2022.
We formed a W shaped double bottom which is a strong reversal sign.
Bearish stuff:
We did not create higher highs yet and are in a consolidation phase during a down trend.
Technically we are still not above the bull market support band consisting of the 20 week SMA and 21 week EMA .
We believe that the people that hold through these hard times will get rewarded.
What is needed is patience and endurance .
We expect a bullish Q2 for 2022.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumblery
AMZN just broke through a falling wedge (plus stock split)With AMZN pending 20-to-1 stock split this looks like a good bet right now. AMZN just broke through the top resistance of the falling wedge pattern. This is good short term and long term bet. Also if you like selling covered calls after the split AMZN will be a good stock for Covered Calls as it will be more affordable to buy in blocks of 100. If you buy 5 stocks today that will give you 100 after the split and you can sell a covered call. So buying in blocks of 5 is a good thing if you plan to sell covered calls.
ETH Breakdown - State of the ChartI'm taking a look at ETH right now, and want to share some new thoughts since we find ourselves now on the Top of this channel formed in early Q1. If we can breakout of 3100, I think we are destined for 3700, 4000. I provided Volume by Price on the left of this chart, so you can see where ETH has been traded, the most on the way down since November. If you look in the Green Box and go to the left of the chart, you will find a large, thinly traded area in the chart. ETH should move rather quickly thru this area as there are less bag holders looking to sell to breakeven from buying on the way down. The gap from 3250 to 3700 is pretty thin. Breaking out of 3100 though will be a significant challenge though, as a clear wedge has formed and is starting to narrow and squeeze ETH on direction or another. I'll address the two sides of how I read situations like this below so you can hopefully be prepared as ETH meets a very critical point in its journey for what Q2 could look like.
Resistance side of channel
We've traded in a long term bearish cycle since November, and a more recent channel since early January. The most recent channel, the January channel, was formed after ETH took a nose dive and bounced hard at a Support line that came from a channel formed 18 months ago that we've been trading in since November 2020. While we needed that bounce, it wasn't enough. Since we've bounced of that support line, we've also found this newly formed channel, which we have now bounced of the ceiling of it on 4 separate occasions. (Thich Red Line on chart). Its clear that the ceiling of this channel has proven tough to break out of, and with the current uncertainty in the market, it may provide to be too tough for us to truly break free. That would have to mean though, that our support side of the channel breaks down.
Support side of channel Its not all bearish on this side. Our Support line in this 3 month channel is the same support line that extends all the way back to November 2020. Its been tested, and it hasn't broke down. While we are in a 5 month bear channel, we are in an 18 month bull channel. Going full nerd, I like to think of each channel as a wave, the older the channel, the larger the wave. Some channels are intra-day, and might last 15 minutes.. pretty small wave in the grand scheme of how ETH moves. When faced up against a larger wave, the larger wave will normally win. however, that wave will now be less large, as its taken on impact from a smaller wave heading in a different direction. In the case of our current ETH situation, we have an 18 month wave that's held the test of time, but its taken some hits, and the waves in front of it have all been knocked out!!!!
Summary So here we are, in a wedge, with not really any short term support to the downside of the channel, other than small waves made in the last 2 days. We rely on our large wave supporting us around 2400 as we wedge closer, with a couple decent sized waves, and an uncertain future looking to take it on. I have no fk'ing clue which will win :). But I do know, we need to watch for breaks of our support lines, and be ready to react, because we could move quickly on a breakout upwards, and quickly on a breakout to the downside. I'm honing the positive energy tonight, so no downside technical for you.
ETHUSD
Microsoft Just broke out of the descending WedgeGood time to buy Microsoft as it just now broke out of the descending Wedge. Long term it's a good bet anyway, plus through June it should continue an uptrend if it runs as long as the descending wedge did.
JASMY/USDTWill go long in case of a pullback or a clear brake with above average volume , generally i like to wait for a retest of the trendline but sometimes thats just not possible. Target is the upper trendline of the wedge that was drawn on de 1h timeframe. The long forecast is just in indication of where i want to enter the position, not the exact Entry, TP and SL. If i open the trade I will update idea.
HD Bullish Wedge Break $50-70 move Just reposting this witha regular chart ignore the Strategy below I am not using that.
by iCantw84it
03/16/22
UTKUSDT is creating a falling wedgeThe price is creating a falling wedge on the daily timeframe, and the market retested the daily support on the dynamic support and static on 0.17$
On the 4h timeframe, the price is creating an ascending channel and the market is trying to have a breakout from the daily resistance on 0.26$
How to approach?
If the price is going to have a breakout and retest the previous resistance as new support, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
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Follow the Shrimp 🦐
XMR (Monero) Swing Long Set Up $XMR looks like it's about to make a move to the upside as the price breaks above the resistance of the downward wedge formation and retraced back to the 0.5 fib level.
Entries @ 0.618 and 0.5 levels
Exits from $231 - $519
LINAUSDT is creating a falling wedgeThe price is creating a falling wedge on the monthly area on 0.02$
After the breakout, the market got a rejection from the monthly area.
On 4h timeframe, the price is creating a channel below the Monthly resistance.
How to approach?
For a bull scenario, the price needs to get liquidity and it needs to create a clear breakout from the monthly and 4h structure above 0.24$
Otherwise, if the price is going to lose the 0.16$ and confirm the breakout, the next target is the 1.618 Fibonacci on 0.010$
According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
LTCUSD CLOSE TO BREAKOUT! OPPORTUNITY FOR LONGLTCUSD is at his main support, bouncing back off the bottom of the Bollinger band, once it breaks down wedge we should see a retracement back to 50% fib zone.
entry: 110 (Once it breaks out of the wedge at the top)
Invalidation: 84.63
Target: 189.92
ratio: 1:3.14
ROSEUSDT is going to create a falling wedge
The price had a huge bearish impulse, bounced on the weekly support on 0.3$ and had a new breakout.
The price retested the previous support as new resistance and the market went to test again the previous weekly support on 0.2$.
Connecting the lows and the highs, the price is creating a falling wedge exactly on the weekly support.
How to approach?
We are monitoring the price, we could see a double bottom on the weekly support. IF the price is going to have a breakout from the falling wedge and 4h resistance, and turn the previous resistance into new support, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
ICP inverted h&s for breakout from wedgeThere is very clear inverted head and shoulder pattern in the near term however big view is better. Daily chart shows that ICP is about to breakout from downtrend wedge and it can start with current h&s. Check comments for daily chart
LTCUSDT is creating a falling WedgeThe price bounced on the monthly support of 100$ after a false breakout from it.
On the daily timeframe, the price is creating a falling wedge exactly on the monthly support.
In 4h timeframe, the price is testing the resistance on 115 after a first breakout.
How to approach?
If the price is going to have a breakout from the 4h resistance and dynamic daily resistance and retest 120$ as new support, according to Plancton's rules we can look for a new long position. A breakout is not enough, you need a strategy
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
OCEANUSDT is creating a falling WedgeThe price got rejections from the descending dynamic resistance on the daily timeframe and bounced on the weekly static and dynamic support on 0.4$
On the daily timeframe the price is creating a falling wedge on the weekly support and now the price is trying to have ha breakout from the upper trendline and static resistance on 0.52$
On the 4h timeframe, the price is creating a rising wedge inside the main structure. The rising wedge is a bearish pattern, but, if the price is going to create a false breakout, we could see a breakout from the daily resistance.
The setup is valid only after the daily breakout with retest and according with Plancton's rules
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
BTCUSDT is creating a rising wedge?Bitcoin had a bounce from our weekly support after a dump due to war, the price created a V shape.
On the 4h Timeframe, the price is testing a key level on 39600 on the daily resistance on 0.5 Fibonacci level. If you look on the left you can see an accumulation before the previous bearish impulse, it means that this area is so strong to break.
the previous candle created a false breakout, no bullish momentum followed the candle, and the Volume is decreasing. If we exclude the nervous candles about the war, we can identify a rising wedge. A rising wedge with two up-sloping trend lines. The volume trend usually slopes downward.
How to approach?
We are monitoring the price, a clear breakout of 38300 with retest should be a clear sign for a new bearish impulse, 37k is the first 4h support.
The setup is invalidated if the price is going to have a breakout and retest of 42k
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
INJUSDT is testing the 6$, ready for the breakout?The price is creating a falling wedge on the 4h timeframe inside a descending channel.
The market is testing the daily resistance on 6$, it's a key level
A falling wedge marks the corrective phase in this measured move-up formation. Note the receding volume trend of the wedge.
How to approach?
IF the price is going to have a breakout from the 6$, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
GALAUSDT is testing the 0.786 Fibonacci levelThe price is testing the 0.786 Fibonacci level on the daily timeframe after a breakout from the falling wedge and a rejection from the daily resistance on 0.4$
On the 4h timeframe, the price bounced exactly on the previous support and dynamic one on 0.2$
How to approach?
IF the price is going to lose the support and retest the previous support as new resistance, According to Plancton's strategy , we can set a nice order. The setup will be invalid above 0.3$
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
JR | Falling Wedge Breakout | Entry Setup TF4HPrice Action and Chart Pattern Trading
> Possible bullish wedge reversal breakout in timeframe 4H
> Entry @ Breakout trendline and stop zone accumulation
> Target @ Volume Profile POC level Fibonacci zone 0.786 - 1.0
> Risk ratio 2.5: 1
Indicator:
> Smart Money and banker chip significant volume support
> Fund Flow bullish divergence
> KDJ uptrend reversal pattern
> BBD golden crossing baseline
Always respect your stop-loss
BTCUSD (COINBASE) POSSIBLE BREAKOUT ON A DESCENDING WEDGE COINBASE:BTCUSD
Wait for the break out and see if it finds support for entry ..
and entry prior to confirmed breakout is very high risk and should not be entertained.
